Shareholders, come ye come ye! After reading all the banter and the dick sick ASX approved dribble and rubbish from TBA announcements and reading between the lines.ok we all know that TBA is broke $$. We all know ASX don’t allow it to realist because it can’t prove it can remain a going concern. We know it owes around $10m in binding contracts. We know it probably has around +$3m in other creditors. We know Lorena after we pay the final -$5m that it’s going to need power, leach tanks, crusher, bill mill, new tailings dam, water supply, reboot of major equipment no change out of a further $10m. We know our ore delivered to GAM is so diluted that TBA has decided it’s not worth processing. We know that no more ore can come from Golden Mile as in transition ore and the mentally deficient moron mining management. That leaves, as I understand it, ( correct me if I’m wrong) only Mt Freda left to mine. To open cut it, is, I’m told a $12m waste removal just to get to the ore. But TBA have proved they can’t mine without massive dilution and looks like keeping same mining morons. Yet, it appears, after allof the above, the company is not yet in administration or receivership.? We have a $4.25m loan and $850k interest to pay back to lenders in couple weeks, so only couple scenarios. (A) Already has a credit line of +$30m minimum ( cannot survive under quick $30m) or think can get one and has convinced the auditors. (B) are in process of takeover talks with cashed up fools. TNR?(C) have a cornerstone investor who is ready to punt $$ a miracle. (D) going to pay directors fees and “hangers onna” contractors all the $4.25m loan money until it’s all gone and walk.(E) preparing for admin, 3rd party Audit and class action.It has to be one of the above. My guess is one of the above will enter the forum from tomorrow, ie: Monday to end of April, one will be announced. If none of these scenarios is not forthcoming by end April then TBA willhave performed a “genuine miracle” no one has ever performed before. As we know this BM guy can sell ice to Eskimo’s and sand to the Arabs. None of the above will surprise me. However I’m hoping for A, B, C. Wouldn’t that be nice ?
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